Accounting SoftwareKalasadama 4, Tallinn, EstoniaFounded 2015CEO Mikko Teerenhovi
Xolo is a SaaS platform for freelancers and solopreneurs in Europe, offering company registration, invoicing, expense management, bank account integration, and embedded accounting and tax filing services.
Xolo has not published its revenue. CB Insights puts it at about $7.2M a year (November 2024). Xolo is #485 on the Latka List, level with two others. The list ranks the 1,356 companies Nathan Latka has interviewed by revenue.
| As of | Revenue | Source |
|---|---|---|
| Jun 2020 | $2.8M | – |
| Nov 2021 | $5.6M | – |
| Nov 2022 | $6.9M | – |
| Nov 2023 | $7.5MEST | GetLatka estimate |
| Oct 2024 | $9.5MEST | GetLatka estimate |
| Nov 2024 | $7.2MEST | CB Insights estimate |
– source not recorded
Xolo is privately held, so there is no Xolo stock to buy. Investors valued it at $50M in its June 2020 Series A.
Xolo has raised $31M across three rounds since 2017. The latest was a $20M Raising Now round in December 2021.
| Date | Round | Raised | Valuation | Source |
|---|---|---|---|---|
| Dec 2021 | Raising Now | $20M | – | – |
| Jun 2020 | Series A | $9M | $50M | Allan Martinson on cameraWatch at 7:49 |
| Jun 2017 | Seed | $2M | – | – |
| Total raised | $31M |
Nathan Latka has interviewed Xolo once, speaking with Allan Martinson. Each figure links to the second it was said.
Watch: How Xolo Reached €400K MRR with 6,000 Paying Customers and 100% Growth in 2021 (Interview with CEO Allan Martinson)December 2021 · Allan Martinson, CEO
Xolo competes most directly with Toptal.
| Company | Revenue | Funding | Employees | Customers | Founded |
|---|---|---|---|---|---|
 Toptal | $167M | – | 6,157 | 1K | 2010 |
| Xolo | $7.2M | $31M | 99 | 6K | 2015 |
Mikko Teerenhovi founded Xolo in 2015 with Erko Hansar and Erik Mell and runs it as CEO. Xolo had 99 employees (October 2024, LinkedIn), down from 118 a year earlier.
Also at XoloTaaniel Ots, Irina García, Marcus Murumäe, Ariel Cervantes Quintana, Margus Uudam, Vitali Petrov, Cristina Gómez Torrens, Valentin Zigalkin, Triin Õige, Emmanuel Vergara Coronel, Mirko La Porta, Bernadett Tolnai, Tiit Oja, Piia Orav, Paul Maries, Lorenzo Spaterna, Elina Christiansen, Eleonore Typhaine Fernández, Jaanus Sildam, Lucas de Melo, Ariadna Julià Brunet, Lauri Kruuda, Lauri Jesmin, Jonathan Cassoni, Giovanna A., Shally Tammepuu, Martin Kabanen, Elena Garro saéz, Kirsika Kaljuvee, Kärt K., Fabio Cannella, Michele Capelli, Daniel Faubion, Kristel Võip, Cirkeline Ask, Faruk Yılmaz, Evelyn Nigul, Alejandro Martí Vicent, Maria Bozzo, Kristina Toom, Katre-Helena Sirge, Shade Yllarramendi Fuentes, Andreas Palsner, Maria Eldermann, Julia Veensalu, Martin Moor, Egon Naarits, Maris Terve, Berta Sepp, Katrin H., Daniel Rios Garcia, Maarja-Liisa K., Gristel Saar, Liina S, Maarja-Liis Mereäär, Peeter Niinepuu, Tõnis Uiboupin, José V., Merilin Krümann, Siret Link, Kadi Kask, Stella Tischler, Kadri Olle, Signe-Renate Saar, Gonzalo Bermúdez Alonso, Maili L., Stiina-Kirke Jurs, Sirli Trahv, Fabián Rubio García, Kaidi Ermel, Kristel Lääne, Keteli Olevi, Karin Vahar, Kaarel Jõgeva, EMMANUEL ITUNU LAWAL, Piibe Pullerits, Liina Tollimägi, Mauro Di Loreto Russo, Leila Bouhya, Mery-Ly Reiman, Tiia Ansper, Katrin Vestrik, Erik Berendsen, azadebin jacob, Kadi Kaljula, Annika Madissoon, Liisa-Maria Tiidu, Kadri Punder, Triin Kull, Pranav Attreya, Kristel Kuldhaamer, Brigita Nõmmsalu, Merke Kiivit
| As of | Employees | Source |
|---|---|---|
| Oct 2024 | 99 | |
| Nov 2023 | 118 | – |
| Sep 2023 | 118 | – |
| 2023 | 115 | – |
| Nov 2022 | 110 | – |
| 2022 | 110 | – |
| 2021 | 90 | Allan Martinson on cameraWatch at 9:19 |
| Nov 2020 | 59 | – |
| Jun 2020 | 59 | – |
CB Insights estimates Xolo's revenue at about $7.2M a year (November 2024). The company hasn't published its own figure.
Investors valued Xolo at $50M in its June 2020 Series A, as Allan Martinson said on camera.
Xolo has raised $31M across three funding rounds. The latest was a $20M Raising Now round in December 2021.
No. Xolo is a private company, so its shares aren't traded on a stock exchange.
Xolo had 99 employees in October 2024, according to LinkedIn.
Mikko Teerenhovi is the CEO of Xolo and co-founded the company in 2015.
Erko Hansar, Erik Mell and Mikko Teerenhovi founded Xolo in 2015.
10 said on camera · 1 from public sources · 3 estimates. Founder figures link to the second they were said; public figures name their source; estimates are marked EST and say whose they are. Not financial advice. The Latka List ranks the private, operating companies Nathan Latka has interviewed by the latest revenue figure on each profile, reported or estimated; equal figures share a rank.
Updated Oct 29, 2026Data disclaimerReport a correctionClaim this profile